Happi Staff11.17.20
After a series of moves this year, Coty Chairman Peter Hart likes what he sees at the world's biggest fragrance company. According to a filling with the USSecurities and Exchange Commission, Harf bought $150 million of Coty stock from KKR, the private equity firm that had taken a stake in the business in connection with a deal for the professional division. The purchase increases Harf’s stake in Coty to about 4.6 percent, the filing said. Harf is also the chairman of Coty majority owner JAB, which owns about 60% of the business. Coty’s stock price jumped almost 9 percent Monday on the news, to $5.22.
Earlier this year, Coty reached an agreement to sell a majority stake in brands like Wella, OPI and Clairol to KKR. The deal is expected to close at the end of the month. In personnel moves, Harf hired beauty industry veteran Sue Nabi as Coty CEO.
Earlier this year, Coty reached an agreement to sell a majority stake in brands like Wella, OPI and Clairol to KKR. The deal is expected to close at the end of the month. In personnel moves, Harf hired beauty industry veteran Sue Nabi as Coty CEO.
